TikTok hit the social media market and blew away the fame of other apps like Instagram; since then, the rivalry between the Meta and TikTok networks has increased. We have seen how Instagram has copied some functions such as the ‘Reels’ that came to compete directly with TiKTok videos. Now, in its eagerness to help creators with the monetization of their content, Instagram announced new ‘Gifs’ (gifts), quite similar to an option you already know on TikTok.
Specifically, the social network confirmed to TechCrunch that they are working on a new button called ‘Gifts’, which, as the name implies, will allow users to send gifts to their favorite influencers. The function, which does not yet have a launch window, is reminiscent of the one that already exists in the ByteDnce social network. Video creators on TikTok can receive gifts through their live broadcasts, which they can accumulate and later redeem for money. According to the aforementioned medium, in the case of Instagram, the gifts will be available exclusively for Reels and not all creators will be able to activate this function.
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Many details remain to be revealed. Instagram commented that there will be certain requirements for creators to receive gifts from their followers, but at the moment we do not know what those requirements will be. Likewise, the social network has not commented on the percentage of commission that will be charged to the creators when they decide to exchange the gifts for cash. For now, Instagram has only detailed that the feature “is an internal prototype and is not being tested externally.”
This is not the first time that Instagram has aimed at monetization, since we already knew a similar function when Instagram TV still existed as the main focus of its videos. At the time, users could offer ‘badges’ to their favorite creators which could later be exchanged for money. The values of the ‘badges’ ranged from 0.99, 1.99 and 4.99 dollars. Subsequently, the social network announced the subscriptions that are supposed to arrive soon to boost content creators with the monetization of their publications.